Tenancy Deposit Scheme

From April 2007, any deposit paid to a landlord or agency must be protected using a government authorised tenancy deposit scheme.

The new legislation has been introduced to ensure that:

• you get all or part of your deposit back, when you are entitled to it
• any disputes which may occur between you and your landlord or agent will be easier to resolve

At the commencement of any Assured Shorthold Tenancy Agreement, you must pay your deposit to your landlord or agent as usual. However, within 14 days, the landlord or agent is required to give you details about how your deposit is protected, including:

• The contact details of the tenancy deposit scheme
• The contact details of the landlord or agent
• How to apply for the release of the deposit
• Information explaining the purpose of the deposit
• What to do if there is a dispute about the deposit

As a tenant, you have a responsibility to return the property in the same condition that it was let to you; allowing for fair wear and tear. If your landlord has not entered your deposit into an authorised scheme, you are entitled to apply to your local county court. The court can order the landlord or agent to either re-pay the deposit to you or to protect it in an approved scheme. If your landlord has failed to protect your deposit, they will be ordered to repay three times the amount of the deposit to you.

If the property that you are moving into is managed by Jacksons Estate Agents, then the deposit will be held under the insurance based scheme run by Tenancy Deposit Solutions Ltd.; further information on this company can be found at http://www.mydeposits.co.uk/